‘Selling Dollars’ Again

by Jeffrey P. Snider
Alhambra Partners

With the sudden interjection of uncertainty halting the surge in Brexit odds since the unfortunate attack on British MP Jo Cox last week, the financial world has benefitted from the pound’s resurrection. Sterling has had a very good couple of days in this reversal, especially today. As it rises it adds the same as we saw on the day of the atrocious US payroll report – determined “dollar selling.” CNY has been dutifully higher during its run, also halting its seemingly inevitable further disruptive influence.

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